From GlobeNewswire: 2025-01-08 07:00:00

Simply Good Foods reported financial results for the thirteen weeks ended November 30, 2024, with net sales of $341.3 million, net income of $38.1 million, and adjusted EBITDA of $70.1 million. The company reaffirmed its fiscal year 2025 outlook, expecting net sales to increase 8.5% to 10.5% and adjusted EBITDA to increase 4% to 6%.

The company saw strong first quarter retail takeaway growth, with net sales increasing by 10.6% to $341.3 million. Retail takeaway in the combined U.S. measured and unmeasured channels increased by about 8%, driven by Quest and OWYN growth. Gross profit was $130.5 million, resulting in a gross margin of 38.2%.

In the first quarter of fiscal year 2025, Simply Good Foods reported net income of $38.1 million, compared to $35.6 million in the year ago period. Operating expenses increased to $75.9 million, with selling and marketing expenses rising due to the inclusion of OWYN. Adjusted EBITDA for the quarter was $70.1 million, up from $62.0 million in the year ago period.

The company ended the first quarter with cash of $121.8 million and cash flow from operations of $32.0 million. Net Debt to Adjusted EBITDA ratio as of November 30, 2024, was 0.8x. The company’s outlook for fiscal year 2025 remains strong, with expectations for organic sales growth primarily driven by volume and strong advertising and marketing plans in place.



Read more at GlobeNewswire:: The Simply Good Foods Company Reports Fiscal First Quarter